IRS releases draft 2009 Form 990
January 14, 2010
The IRS has released a draft 2009 Form 990; the instructions have yet to be published. The draft includes the following substantive changes from the 2008 form:
- The core form directs filers to indicate whether they received audited financial statements on either a consolidated or separate entity basis. For the 2008 Form 990, only filers who received their own separate audited financial statements could indicate that they received audited financial statements. Where consolidated audited financial statements were prepared, only the parent organization of entities with consolidated financial statements could report that it received audited financial statements, even if the statements include a consolidating schedule.
- Schedule G requires reporting additional details for expenses related to fundraising events.
- Substantive sections of Schedules H (hospitals) and K (bonds) that were optional in 2008 will be required in 2009.
- Schedule J (compensation) includes a new question asking whether the organization followed the procedures to establish the rebuttable presumption of reasonableness in setting compensation in an initial contract.
To access the draft 2009 Form 990 and schedules enter Form 990 in the "Find" field and select the Product Number in the drop down box.
Director, Tax Policy
- Broad Coalition Presses for Expansion of Employer-Provided Tuition Benefits
- New GASB Standard Tackles Fiduciary Activities
- New Report Details Charitable Giving to Colleges and Universities
- WEBCAST: Planning Components of Civil Discourse
Wednesday, March 15, 2017 1:00PM ET
- WEBCAST: NACUBO Live! 2017 Student Financial Services Conference
- ON-DEMAND: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
- ON-DEMAND: Compliance Challenges for the New EPA Hazardous Waste Rule
- ON-DEMAND: The ROI of Student Success: Practical Considerations for Measuring and Conveying the Financial Value of Student Support Services
- ON-DEMAND: NACUBO Live! Student Financial Services Conference